He allegedly advanced the cut-off date to favour accused firms in allocation of 2G licences.
A decline in the real estate sector, rising debt and the company's alleged involvement in 2G scam caused damage to the business and its image.
The court said a 'scam was created when there was none'.
The government has relaxed the norms for allowing foreign direct investment (FDI) in the construction development sector. It is expected the move will boost affordable housing projects and smart cities across the country.
Some developers point out that what comes in the way of low-cost housing is the sky-high price of land
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